Is Debt A Sin?

Debt is a tough subject for most to discuss. I would suggest that it is the biggest financial challenge facing Americans today. So, where does the Bible stand on debt?

Since we talk a lot about debt here, I wanted to give you some Biblical views to consider today. We will talk about various ways to reduce the impact of debt or to negotiate debt that is in collections. We will often even discuss what happens if you walk away from debt. It is my role to answer your questions and give you the facts of the situation.

I have always felt that when people call in with these tough questions, they want straight facts and not an answer designed to make them feel guilty for their situation. If you are like me, it is easy to feel guilty without the help of someone else. I also don’t always give unsolicited opinions on their situation. It is not my role to pass judgment. Prudent Money should be a safe place for you to come and get information.

Having said all of that, I do want to take the time to share with you my views on debt from a spiritual perspective. In taking about twelve key Scriptural references in the Bible, these are my conclusions. It comes down to moral obligation, dependence, and freedom.

1) I believe that you should always pay back what you owe. Debt is a contractual and moral obligation that we make with someone. Whether or not we like the terms and conditions, at some point we did agree to them.
2) Paying back your debt takes your relationship with Christ to whole different level. Paying back debt brings us back to a level of dependence of Christ. It is the strength of that level of dependence that forms the foundation for a strong relationship. I have often said that it is debt that brings Christians to their knees and back to God.
3) If we are in debt, we are not free as we can be to serve. We want to be 100% free to serve in our relationship with Christ. If we are not in a place to where we can commit 100% of our time and attention to Christ, then we are a slave to man as it says in 1 Corinthians 7:23. We also want to be free to serve others as well.
4) Christ doesn’t want obligations above the relationship with Him. If you are in debt, you are completely obligated. Until you get out of debt, it is hard to be in a place where you can give 100% of yourself. Debt can become something that develops a life of its own.
5) Most debt problems are created due to not living a Matthew 6:24 life. There comes a time when we have allowed money to be a god. It is so easy to enjoy all of the immediate short-term gratification that debt can give. It can be powerful feeling from a powerful stimulant. The key is getting back into God’s financial will for your life. It is only there that you can start your road back to freedom.

So is debt a sin?

Money was written about more than anything else in the Bible. God knew that we needed instruction on dealing with money. He knew that it would get in the way. Debt is a powerful tool of commerce. If used correctly, it can be a good prudent strategy in how we handle His money.

The key is using debt the right way. If you are going to borrow money, know how you are going to pay it back. Know without a doubt you are not making a commitment that will not in any way get in the way of your relationship with Christ. If you have debt, commit to a game plan to where you can get out of it. Make the two objectives freedom from everything and dependence on Him.

The Bible does not specifically say that debt is a sin. There are many things in the bible that are not specifically mentioned as a sin. It is letting those things get out of control and get in the way of your relationship with Christ that becomes the problem.

That is the problem with debt. It can happen in an instant if we are not guarding our wallets and our hearts.

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